Raymondville FHA Loan Rates, Closing Costs & Stats

Raymondville, TX

FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

For additional requirements as defined by the FHA, click here.

Raymondville's 11 lenders originated 18 FHA loans during 2023. The total origination value was $3,700,000, with an average FHA loan value of $205,556.

Raymondville FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Raymondville averaged -0.2% for the week of 2024-11-29, compared to the national average (all FHA variants) of 0% for the same period.

Raymondville's average FHA mortgage closing costs are $8,064.

The average rate for the prior week (2024-11-22) was 6.39% and one month ago for the week of 2024-10-25, the average rate was 6.37%.

The average rate one year ago was 6.96%.

For refis of the same type during the week of 2024-11-29, the average rate was -0.2%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Raymondville FHA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Raymondville level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
DRAPER AND KRAMER MORTGAGE CORP. 3 6.54% $12,095
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.92% $5,868
AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.56% $12,533
NATIONS RELIABLE LENDING, LLC 1 5.50% $18,594
Paramount Residential Mortgage Group, Inc. 1 5.50% $14,329
QUICKEN LOANS, LLC 1 5.75% $16,709
SUN WEST MORTGAGE COMPANY, INC. 1 6.88% $12,347
ACADEMY MORTGAGE CORPORATION 1 6.13% $17,161
UNITED WHOLESALE MORTGAGE, LLC 1 6.00% $8,185
AMCAP MORTGAGE, LTD. 1 8.25% $10,018
HOMESIDE FINANCIAL, LLC 1 7.12% $8,054

The top Raymondville FHA lender as defined by loan originations is DRAPER AND KRAMER MORTGAGE CORP., with 3 FHA loans originated. Their average total fees are $12,095, which is $6,227 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Raymondville FHA lenders (with over 10 loans originated) are .

The lowest rate Raymondville FHA lenders (with over 10 loans originated) are .

Raymondville FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
RAYMONDVILLE, TX WILLACY 2022 $420,680 $538,650 $651,050 $809,150
RAYMONDVILLE, TX WILLACY 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Raymondville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $194,000 (25.2%) $204,150 (23.4%) 0.00 53
2018-02-01 $183,225 (22.2%) $204,180 (25.0%) 0.00 51
2018-03-01 $176,950 (31.1%) $191,700 (18.6%) 0.00 48
2018-04-01 $182,500 (21.8%) $194,357 (15.1%) 0.00 49
2018-05-01 $186,175 (16.9%) $191,777 (14.3%) 0.00 45
2018-06-01 $155,000 (-2.5%) $179,972 (6.2%) 0.00 49
2018-07-01 $173,200 (12.1%) $192,533 (21.3%) 0.00 51
2018-08-01 $155,750 (-3.9%) $181,250 (13.2%) 0.00 52
2018-09-01 $169,000 (-6.1%) $183,334 (-1.4%) 0.00 49
2018-10-01 $169,500 (-15.0%) $188,212 (-5.4%) 0.00 49
2018-11-01 $170,475 (-14.4%) $186,857 (-9.1%) 0.00 44
2018-12-01 $189,000 (-2.6%) $200,974 (-0.4%) 0.00 40
2019-01-01 $163,225 (-15.9%) $185,878 (-9.0%) 0.00 42
2019-02-01 $178,500 (-2.6%) $196,813 (-3.6%) 0.00 37
2019-03-01 $175,000 (-1.1%) $197,883 (3.2%) 0.00 36
2019-04-01 $181,225 (-0.7%) $203,390 (4.7%) 0.00 36
2019-05-01 $194,225 (4.3%) $211,017 (10.0%) 0.00 36
2019-06-01 $150,000 (-3.2%) $205,429 (14.1%) 0.00 36
2019-07-01 $149,975 (-13.4%) $201,445 (4.6%) 0.00 36
2019-08-01 $205,964 (32.2%) $222,103 (22.5%) 0.00 37
2019-09-01 $230,734 (36.5%) $252,263 (37.6%) 0.00 37
2019-10-01 $246,998 (45.7%) $271,673 (44.3%) 0.00 37
2019-11-01 $248,500 (45.8%) $267,088 (42.9%) 0.00 38
2019-12-01 $261,363 (38.3%) $307,761 (53.1%) 0.00 34
2020-01-01 $258,225 (58.2%) $303,390 (63.2%) 0.00 34
2020-02-01 $244,000 (36.7%) $279,272 (41.9%) 0.00 34
2020-03-01 $225,000 (28.6%) $270,534 (36.7%) 0.00 33
2020-04-01 $197,288 (8.9%) $253,470 (24.6%) 0.00 30
2020-05-01 $224,000 (15.3%) $264,274 (25.2%) 0.00 29
2020-06-01 $224,500 (49.7%) $270,839 (31.8%) 0.00 28
2020-07-01 $232,500 (55.0%) $296,116 (47.0%) 0.00 27
2020-08-01 $235,500 (14.3%) $303,913 (36.8%) 0.00 23
2020-09-01 $220,000 (-4.7%) $313,654 (24.3%) 0.00 23
2020-10-01 $215,000 (-13.0%) $298,483 (9.9%) 0.00 26
2020-11-01 $184,725 (-25.7%) $279,156 (4.5%) 0.00 26
2020-12-01 $210,000 (-19.7%) $266,139 (-13.5%) 0.00 27
2021-01-01 $175,000 (-32.2%) $252,850 (-16.7%) 0.00 23
2021-02-01 $172,000 (-29.5%) $232,965 (-16.6%) 0.00 14
2021-03-01 $171,225 (-23.9%) $227,486 (-15.9%) 0.00 17
2021-04-01 $210,000 (6.4%) $302,762 (19.5%) 0.00 22
2021-05-01 $255,000 (13.8%) $326,158 (23.4%) 0.00 17
2021-06-01 $217,500 (-3.1%) $295,610 (9.2%) 0.00 15
2021-07-01 $283,500 (21.9%) $329,838 (11.4%) 0.00 16
2021-08-01 $275,625 (17.0%) $304,808 (0.3%) 0.00 19
2021-09-01 $293,950 (33.6%) $321,085 (2.4%) 0.00 19
2021-10-01 $214,500 (-0.2%) $282,890 (-5.2%) 0.00 19
2021-11-01 $375,000 (103.0%) $324,097 (16.1%) 0.00 19
2021-12-01 $188,500 (-10.2%) $278,436 (4.6%) 0.00 17
2022-01-01 $175,000 (0.0%) $271,830 (7.5%) 0.00 17
2022-02-01 $208,750 (21.4%) $280,203 (20.3%) 0.00 13
2022-03-01 $257,250 (50.2%) $337,037 (48.2%) 0.00 12
2022-04-01 $279,000 (32.9%) $428,227 (41.4%) 0.00 12
2022-05-01 $284,000 (11.4%) $433,534 (32.9%) 0.00 10
2022-06-01 $209,125 (-3.9%) $395,755 (33.9%) 0.00 13
2022-07-01 $229,500 (-19.1%) $403,825 (22.4%) 0.00 15
2022-08-01 $236,375 (-14.2%) $396,644 (30.1%) 0.00 17
2022-09-01 $273,495 (-7.0%) $466,464 (45.3%) 0.00 20
2022-10-01 $359,950 (67.8%) $443,569 (56.8%) 0.00 21
2022-11-01 $338,000 (-9.9%) $401,495 (23.9%) 0.00 21
2022-12-01 $225,250 (19.5%) $335,851 (20.6%) 0.00 20
2023-01-01 $213,000 (21.7%) $330,229 (21.5%) 0.00 21
2023-02-01 $200,000 (-4.2%) $297,286 (6.1%) 0.00 21
2023-03-01 $216,000 (-16.0%) $320,674 (-4.9%) 0.00 22
2023-04-01 $210,000 (-24.7%) $305,033 (-28.8%) 0.00 23
2023-05-01 $212,500 (-25.2%) $331,667 (-23.5%) 0.00 21
2023-06-01 $242,500 (16.0%) $340,485 (-14.0%) 0.00 19
2023-07-01 $194,750 (-15.1%) $262,257 (-35.1%) 0.00 20
2023-08-01 $196,000 (-17.1%) $257,897 (-35.0%) 0.00 17
2023-09-01 $215,000 (-21.4%) $232,544 (-50.2%) 0.00 25
2023-10-01 $231,000 (-35.8%) $257,392 (-42.0%) 0.00 30
2023-11-01 $272,000 (-19.5%) $294,444 (-26.7%) 0.00 29
2023-12-01 $279,000 (23.9%) $304,044 (-9.5%) 0.00 30
2024-01-01 $307,500 (44.4%) $324,708 (-1.7%) 0.00 26
2024-02-01 $273,250 (36.6%) $322,062 (8.3%) 0.00 28
2024-03-01 $285,000 (31.9%) $340,817 (6.3%) 0.00 26
2024-04-01 $242,500 (15.5%) $294,956 (-3.3%) 0.00 25
2024-05-01 $216,250 (1.8%) $295,245 (-11.0%) 0.00 29
2024-06-01 $199,999 (-17.5%) $296,253 (-13.0%) 0.00 31
2024-07-01 $226,167 (16.1%) $287,825 (9.8%) 0.00 35
2024-08-01 $234,895 (19.8%) $294,918 (14.4%) 0.00 42
2024-09-01 $234,948 (9.3%) $291,546 (25.4%) 0.00 47
2024-10-01 $264,500 (14.5%) $307,436 (19.4%) 0.00 52
Raymondville's median listing price for 2024-10-01 was $264,500, a difference of $33,500 (14.5%) versus the prior year and $29,552 versus the prior month.

Raymondville's median listing price comes in at 0% of the national average.

Raymondville's average listing price for 2024-10-01 was $307,436, a difference of $50,044 (19.4%) versus the prior year and $15,890 versus the prior month.

For the 2024-10-01 period, Raymondville had 52 MLS listings, a difference of 5 listings (11%) versus the prior month and 22 listings (73%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Raymondville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,973 sqft
2018-02-01 0 days 2,061 sqft
2018-03-01 0 days 1,956 sqft
2018-04-01 0 days 1,973 sqft
2018-05-01 0 days 1,898 sqft
2018-06-01 0 days 1,656 sqft
2018-07-01 0 days 1,708 sqft
2018-08-01 0 days 1,612 sqft
2018-09-01 0 days 1,617 sqft
2018-10-01 0 days 1,704 sqft
2018-11-01 0 days 1,617 sqft
2018-12-01 0 days 1,787 sqft
2019-01-01 0 days 1,616 sqft
2019-02-01 0 days 1,621 sqft
2019-03-01 0 days 1,614 sqft
2019-04-01 0 days 1,608 sqft
2019-05-01 0 days 1,618 sqft
2019-06-01 0 days 1,564 sqft
2019-07-01 0 days 1,400 sqft
2019-08-01 0 days 1,505 sqft
2019-09-01 0 days 1,662 sqft
2019-10-01 0 days 1,784 sqft
2019-11-01 0 days 1,919 sqft
2019-12-01 0 days 1,957 sqft
2020-01-01 0 days 2,053 sqft
2020-02-01 0 days 2,007 sqft
2020-03-01 0 days 1,885 sqft
2020-04-01 0 days 1,784 sqft
2020-05-01 0 days 1,784 sqft
2020-06-01 0 days 1,738 sqft
2020-07-01 0 days 1,950 sqft
2020-08-01 0 days 1,977 sqft
2020-09-01 0 days 2,006 sqft
2020-10-01 0 days 2,037 sqft
2020-11-01 0 days 1,997 sqft
2020-12-01 0 days 2,056 sqft
2021-01-01 0 days 2,088 sqft
2021-02-01 0 days 2,056 sqft
2021-03-01 0 days 1,893 sqft
2021-04-01 0 days 2,182 sqft
2021-05-01 0 days 2,278 sqft
2021-06-01 0 days 1,559 sqft
2021-07-01 0 days 1,888 sqft
2021-08-01 0 days 1,685 sqft
2021-09-01 0 days 1,800 sqft
2021-10-01 0 days 1,500 sqft
2021-11-01 0 days 2,409 sqft
2021-12-01 0 days 2,197 sqft
2022-01-01 0 days 2,300 sqft
2022-02-01 0 days 1,784 sqft
2022-03-01 0 days 1,806 sqft
2022-04-01 0 days 2,100 sqft
2022-05-01 0 days 1,926 sqft
2022-06-01 0 days 1,913 sqft
2022-07-01 0 days 2,456 sqft
2022-08-01 0 days 2,448 sqft
2022-09-01 0 days 2,464 sqft
2022-10-01 0 days 2,482 sqft
2022-11-01 0 days 2,482 sqft
2022-12-01 0 days 1,932 sqft
2023-01-01 0 days 1,836 sqft
2023-02-01 0 days 1,670 sqft
2023-03-01 0 days 1,749 sqft
2023-04-01 0 days 1,652 sqft
2023-05-01 0 days 1,694 sqft
2023-06-01 0 days 1,652 sqft
2023-07-01 0 days 1,550 sqft
2023-08-01 0 days 1,550 sqft
2023-09-01 0 days 1,512 sqft
2023-10-01 0 days 1,541 sqft
2023-11-01 0 days 1,640 sqft
2023-12-01 0 days 1,832 sqft
2024-01-01 0 days 1,695 sqft
2024-02-01 0 days 1,695 sqft
2024-03-01 0 days 1,568 sqft
2024-04-01 0 days 1,565 sqft
2024-05-01 0 days 1,415 sqft
2024-06-01 0 days 1,204 sqft
2024-07-01 0 days 1,474 sqft
2024-08-01 0 days 1,584 sqft
2024-09-01 0 days 1,611 sqft
2024-10-01 0 days 1,628 sqft
Raymondville's median listing age (time on market) for 2024-10-01 was 0 days.

Raymondville's median square footage for active listings during the 2024-10-01 period was 1,628 sqft. One year prior, the average listing was 1,541 sqft.

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).